Thinking Points Japanese construction companies flood value-focused quantitative screens. Japanese construction doesn’t necessarily transfer well in other regions. My avoidance of Japanese construction is simply a decision heuristic, not a
Thinking Points Capcom (TYO: 9697) is just getting started with digital distribution. With strong Intellectual Property (IP) like Street Fighter and Resident Evil, Capcom is well grounded. If you missed
Thinking Points People Co (TYO: 7865) is a toy company that consistently pays out nearly 100% of its income. Company strategy is similar to Apple & Keyence (TYO: 6861), focusing
Thinking Points Nihon Decoluxe’s (NGO: 7950) story is profitable, but as boring as it gets. Revenues have only slightly increased over the past 10 years while EBIT delivered 20% CAGR.
Thinking Points Rinnai (TYO: 5947) leads the Japanese water heater market with a 40% market share. However, Rinnai’s Japan share is not the story. Growth outside of Japan has rapidly
Summary Over the past decade, inventory levels have greatly increased, resulting in a drag in capital efficiency. Investing in Takisawa at today’s price entails betting on management to quickly improve